This company has issues man! It dosent honor it’s commitments.
They gave us 20 for 20 and now just took it away and gave us something inferior in dollars and unachievable. 20 for 20 was a one times salary. Now lucky if we get 20%
I did think it was strange that we didn’t have a legal agreement like LTI.
The company hires people and dosent honour its commitment to them when oil prices turn or they decide to merger yet again.
If this company was a spouse, it would be on marriage number 6 by now
That’s a good point. Who wants to bet there is no agreement to sign for this new program just like the 20 for 20 one. Just trust us. Hahahahaahaha
Li Ka Shin is buying Conoco shares, he takes control and will manipulate the price of the stock.
I hate to say it, but the Cenovus employee just got screwed again. Goodbye one times salary payout.
It would have been too expensive to add the Husky employee base to this program if it paid out.
I also heard a rumour they are aggressively working with ConocoPhillips right now behind the scenes and may have a deal in place soon to buy back those shares.
That will remove the overhang on the shares, along with the post-covid rally that’s already started.
It will hit $20 before 2024
It would make sense that AP strongly advised the Board to remove the 20 for 20 for that reason.
I no longer believe in any of these incentive announcements unless there’s a legal agreement in place like proper LTI grants do.
What is 20 for 20? Sorry for asking as I am neither Cenovus nor Husky.
Get serious, do you really think CVE could ever hit 20. It was a pipe dream, no different than dreaming about buying the winning lottery ticket.
We have foxes managing the he—e.
What a kick in the pants to all those working up there.
Stay classy Cenovus
So I somewhat agree but let’s be honest if anyone ever thought we would hit that 20 for 20 you don’t understand basic economics. It was never going to happen and that’s why it was put out there. They knew they would never have to pay out while at the same time exciting the little people / employees who can’t do math.
It was a carrot that was never going to be eaten. Same as this program.
Yes, and Could you imagine how pizzed off everyone would be if it actually hit $20 per share for the 20 days now!
Does anyone recall how long this was on for?